Assenagon Asset Management S.A. Reduces Position in Taylor Morrison Home Corporation $TMHC

Key Points

• Assenagon Asset Management S.A. reduced its stake in Taylor Morrison Home Corporation by 33.5%, selling 305,262 shares, and now owns approximately 0.60% of the company, valued at around $37.27 million.
• CEO Sheryl Palmer sold 25,000 shares of the company's stock for a total of $1.76 million, marking a 6.11% decrease in her holdings, while other insiders have also sold shares recently.
• The stock has been rated mainly as a "Buy" by analysts, with an average target price set at $77.50, reflecting a positive outlook despite a recent downgrade to "hold" by Wall Street Zen.

Assenagon Asset Management S.A. cut its position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 33.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 606,802 shares of the construction company's stock after selling 305,262 shares during the period. Assenagon Asset Management S.A. owned 0.60% of Taylor Morrison Home worth $37,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Taylor Morrison Home by 193.0% during the first quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after buying an additional 444 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Taylor Morrison Home by 49.5% during the first quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock worth $48,000 after buying an additional 262 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Taylor Morrison Home by 50.2% during the first quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock worth $51,000 after buying an additional 282 shares in the last quarter. Parallel Advisors LLC lifted its position in Taylor Morrison Home by 29.9% during the second quarter. Parallel Advisors LLC now owns 882 shares of the construction company's stock worth $54,000 after buying an additional 203 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Taylor Morrison Home by 27.8% in the 1st quarter. Fifth Third Bancorp now owns 1,034 shares of the construction company's stock valued at $62,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen downgraded Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Finally, Bank of America upped their price target on Taylor Morrison Home from $72.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $77.50.

Insiders Place Their Bets

In other news, CFO Curtis Vanhyfte sold 5,082 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $69.97, for a total transaction of $355,587.54. Following the completion of the transaction, the chief financial officer directly owned 11,742 shares of the company's stock, valued at approximately $821,587.74. This represents a 30.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anne L. Mariucci sold 14,002 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $70.00, for a total value of $980,140.00. Following the transaction, the director directly owned 48,191 shares of the company's stock, valued at approximately $3,373,370. This trade represents a 22.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,351 shares of company stock valued at $4,700,630. 1.40% of the stock is owned by company insiders.

Taylor Morrison Home Stock Down 2.5%

Shares of NYSE:TMHC traded down $1.72 on Monday, hitting $66.04. 1,379,071 shares of the company's stock were exchanged, compared to its average volume of 1,093,122. The firm's 50-day moving average is $66.11 and its 200 day moving average is $61.48. The company has a market capitalization of $6.63 billion, a PE ratio of 7.63 and a beta of 1.58. Taylor Morrison Home Corporation has a 1-year low of $51.90 and a 1-year high of $75.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.08. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.93 billion. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The business's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS. Sell-side analysts predict that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

Taylor Morrison Home Profile

Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.